Zacks Reiterates Neutral Rating for American Electric Power Company (AEP)
American Electric Power Company (NYSE:AEP)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday. They currently have a $58.00 target price on the stock. Zacks‘s price objective suggests a potential upside of 4.83% from the company’s current price.
Zacks’ analyst wrote, “We have retained our Neutral recommendation on American Electric Power Company, Inc. We like the company’s regulated business mix, and its rising focus on transmission as a growth driver and planned capital spending program. The company beat the street consensus by 26.4% in the first quarter of 2014. The quarterly figure also improved 43.8% from the year-ago level supported by favorable weather and high power prices. In the wake of the recent Obama climate plan, American Electric is increasing its gas capacity as opposed to coal, which will yield lucrative returns. Moreover, the company will benefit from attractive growth opportunities in the shale rich regions of Texas and Ohio. However, future prospects could be limited by weather variations, sluggish economic fundamentals and a loss of a big client. “
Shares of American Electric Power Company (NYSE:AEP) traded up 0.70% on Monday, hitting $55.72. The stock had a trading volume of 1,161,229 shares. American Electric Power Company has a 1-year low of $41.83 and a 1-year high of $55.41. The stock’s 50-day moving average is $53.13 and its 200-day moving average is $50.18. The company has a market cap of $27.196 billion and a P/E ratio of 16.08.
American Electric Power Company (NYSE:AEP) last released its earnings data on Friday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.27. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts expect that American Electric Power Company will post $3.49 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of American Electric Power Company from $55.00 to $56.00 in a research note on Thursday, June 19th. Separately, analysts at Wells Fargo & Co. reiterated a “positive” rating on shares of American Electric Power Company in a research note on Tuesday, May 27th. Finally, analysts at Ned Davis Research upgraded shares of American Electric Power Company from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $54.23.
American Electric Power Company, Inc (NYSE:AEP) is a utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries.
To view Zacks’ full report, visit Zacks’ official website.
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